Sales-related transactions Instructions Chart of Accounts General Journal Instructions Showcase Co., a fumiture wholesaler, sells merchandise to Balboa Co. on account, $243,100, terms n/30. The cost of the goods sold is $154,580. Showcase Co. issues a credit memo for $29,980 for merchandise retumed prior to Balbos Co. paying the original invoice. The cost of the merchandise returned is $16,220. Joumalize Showcase Co.'s entries for (a) the sale, including the cost of the goods sold, (b) the credit memo, including the cost of the returned merchandise, and (c) the receipt of the check for the amount due from Balboa Co. Chart of Accounts CHART OF ACCOUNTS Showcase Co General Ledger ASSETS 110 Cash 121 Accounts Receivable-Balboa Co. 125 Notes Receivable 130 Inventory 131 Estimated Returns Inventory Check My Work 2 more Check My Work uses remaining Assignment Score: 50% REVENUE 410 Sales 610 Rent Revenue EXPENSES 501 Cost of Goods Sold All work saved Email Instructor Save Record Inventory Sales eBook CHART OF ACCOUNTS Showcase Co. General Ledger Show Me How ASSETS 110 Cash 121 Accounts Receivable-Balboa Co. 125 Notes Receivable 130 Inventory 131 Estimated Returns Inventory 140 Office Supplies 141 Store Supplies 142 Prepaid Insurance 180 Land 192 Store Equipment 193 Accumulated Depreciation-Store Equipment 194 Office Equipment 195 Accumulated Depreciation-Office Equipment REVENUE 410 Sales 610 Rent Revenue EXPENSES 501 Cost of Goods Sold 521 Delivery Expense 522 Advertising Expense 524 Depreciation Expense-Store Equipment 525 Depreciation Expense-Office Equipment 531 Rent Expense 533 Insurance Expense. 534 Store Supplies Expense 535 Office Supplies Expense 536 Credit Card Expense 539 Miscellaneous Expense 710 Interest Expense LIABILITIES 210 Accounts Payable 218 Sales Tax Payable 219 Customer Refunds Payable 220 Uneamed Rent 221 Notes Pavable Check My Work 2 more Check My Work uses remaining Assignment Score: 50% All work saved General Journal Journalze Showcase Co.'s entries for (a) the sale, including the cost of the goods sold, (b) the credit memo, including the cost of the returned merchandise, and (c) the receipt of the check for the amount due from Balboa Co. For grading purposes, use December 31 as the date for all transactions General Journal Instructions PAGE 10 JOURNAL ACCOUNTING EQUATION DATE DESCRIPTION POST RES DENT CADIT ASSETS LIABILITIES EQUITY